Modular cutting tools are one type of metal and alloy cutting tool that uses indexable cutting inserts that are removably attachable to a tool holder. Metal and alloy cutting inserts generally have a unitary structure and one or more cutting edges located at various corners or around peripheral edges of the inserts. Indexable cutting inserts are mechanically secured to a tool holder, but the inserts are adjustable and removable in relation to the tool holder. Indexable cutting inserts may be readily re-positioned (i.e., indexed) to present a new cutting edge to the workpiece or may be replaced in a tool holder when the cutting edges dull or fracture, for example. In this manner, indexable insert cutting tools are modular cutting tool assemblies that include at least one cutting insert and a tool holder.
Cutting inserts include, for example, milling inserts, turning inserts, drilling inserts, and the like. Cutting inserts may be manufactured from hard materials such as cemented carbides and ceramics. These materials may be processed using powder metallurgy techniques such as blending, pressing, and sintering to produce cutting inserts.